Hoping for A Gold Correction
While everyone is trying to figure out why gold and silver prices are falling, I'm sitting over here rooting for a price drop in gold. Sure, I want the price to eventually go up, but I'd prefer to stack it cheaper than it is now. I've been avoiding gold lately and have been mainly scrapping Sterling silver, but with silver prices dropping along with gold I may switch gears.
Based on the current trend, it looks like gold may drop initially into the $3800 range. I'm hoping it drops a little further to around $3500/ounce. It's still nothing compared to the when I remember picking it up for $1600/ounce, but I fear those days are long gone.
We'll have to see what happens, but here's to hoping for a nice dip we can all enjoy!
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